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      Question

      What is the penalty levied for failure to furnish

      information to SEBI?
      A Not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees Correct Answer Incorrect Answer
      B Not less than ten lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of insider trading, whichever is higher Correct Answer Incorrect Answer
      C Not less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of insider trading, whichever is higher Correct Answer Incorrect Answer
      D As per Indian Penal Code. Correct Answer Incorrect Answer

      Solution

      As per Section 15A failure to furnish information, return, etc., there is a provision for penalty not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees.

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